Record increases in electricity and gas prices in a short period have harmed energy suppliers in Germany, causing several companies to go bankrupt. Bloomberg reported about it on December 23.
To date, seven German energy companies have gone bankrupt. Against the backdrop of rising gas prices, companies are unable to provide them to their consumers.
The rise in gas prices has caused bankruptcy and energy companies in the UK. In the fall, the country’s government said that the UK benefits from the presence of different sources of gas supplies.
“The UK gas system continues to operate reliably and we do not expect any increased risk of supply emergencies this winter,” the BBC quoted the government as saying.
Earlier on Friday, gas futures prices in Europe fell below $ 1.2 thousand per 1,000 cubic meters. m. Also on Friday, Russian Deputy Prime Minister Alexander Novak said that the price of gas in Europe in 2022 will be kept at a high level. He clarified that this is the balance of supply and demand.
In late summer and early autumn, the cost of gas in Europe rose sharply. So, in early August, the estimated price of the next TTF futures was about $ 515 per 1,000 cubic meters. m., and by the end of September the figure had more than doubled.
This year, European countries have faced record gas prices: by the end of the year, they more than quadrupled compared to January levels. The reasons were the shortage of liquefied natural gas in the world market due to increased demand, as well as the EU’s reassessment of the possibilities of wind and solar generation and the rejection of more reliable traditional energy sources.